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All eyes on Tito Mboweni ahead of mid-term budget review

Tito Mboweni will today reveal the extent of the government’s tax revenue shortfall, estimated at more than R300bn.

Finance Minister Tito Mboweni. Picture: @TreasuryRSA/Twitter

CAPE TOWN - All eyes will be on Finance Minister Tito Mboweni when he tables his mid-term budget review in Parliament this afternoon.

The sitting is due to start at 2pm.

Mboweni is caught between a rock and a hard place - there is massive pressure on the government to spend, but its debt is spiralling and interest costs are crowding out spending on other critical areas.

Mboweni will today reveal the extent of the government’s tax revenue shortfall, estimated at more than R300 billion.

He is also expected to announce a R10.5 billion bailout for South African Airways, which the opposition democratic alliance says could be better spent on improving ordinary people’s lives.

Mboweni will map out spending plans for the next three years and reflect on the current situation the country finds itself in, months into the COVID-19 pandemic and a lockdown that almost brought the economy to a standstill.

Most importantly, he’s expected to flesh out - with numbers - how the ambitious goals of the economic recovery and reconstruction plan unveiled by Ramaphosa will be implemented.

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